Casella Sees Revenues Rise in First Quarter

Rutland, Vt.-based Casella Waste Systems reported a net loss of $2.9 million on $139.8 million in revenue for the first quarter of its 2011 fiscal year. The quarter ended on July 31.

By comparison, the firm reported a net loss of $2.8 million on $132.5 million in revenue for the first quarter of its 2010 fiscal year.

“Overall, operating results in the first quarter tracked well against our fiscal year plan, with our New York landfills yielding better than expected results, energy prices at Maine Energy lower year-over-year as expected, and solid waste pricing weaker than expected,” said John W. Casella, chairman and CEO of Casella Waste Systems, in a press release.

“Entering the second quarter we completed the implementation of a systematic customer-by-customer profitability analysis to more effectively target pricing and we adopted sales commission structures to drive implementation,” Casella added. “These steps are expected to improve our solid waste pricing to get us back on track to meet our fiscal year pricing objectives.”

TAGS: Financials